Ichimoku Cloud Analysis 08.07.2022 (EURUSD, GBPUSD, NZDUSD)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is testing Tenkan-Sen. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Kijun-Sen at 1.0465 and then resume moving downwards to reach 1.0255. Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.0465. In this case, the pair may continue growing towards 1.0575.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has rebounded from the support level. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Kijun-Sen at 1.2055 and then resume moving downwards to reach 1.1645 Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.2175. In this case, the pair may continue growing towards 1.2265.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is testing the support level. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6195 and then resume moving downwards to reach 0.6035. Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.6265. In this case, the pair may continue growing towards 0.6355.

Article By RoboForex.com

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.